The German Liaison Office for Industry and Commerce Facilitating Business in Iraq Iraq is a country with 40 million inhabitants, is blessed with resources, and has a long and rich history. But with a recent past determined by internal and external conflicts, Iraq poses challenges, and it offers opportunities. The young Iraqi population is demanding participation, both economic and political, against a backdrop of complex economic and regional conditions. Elections took place mid-October 2021. Ground breaking economic reforms have already been announced at the beginning of 2020, with a vision toward reaching self-sufficiency in the industrial and agricultural sectors, and the reconstruction of infrastructure.
The current state of Iraq’s infrastructure and institutional set-up conceals the fact that less than two generations ago Iraq set the regional benchmark in the areas of culture, economic dynamism, and purchasing power. The enormous need to catch up is omnipresent, as it is clear from the dynamically rising bilateral trade figures and the recent visible upturn in domestic economic activity. The upswing is still tentative and fragile, but it could lead to a regional growth story, provided the security situation stabilizes further.
(*) The German Liaison Office for Industry and Commerce in Iraq
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